Aker Solutions Secures Work for Tie-In of Utgard Field to Sleipner Area

September 8, 2016 - Aker Solutions will provide engineering, procurement, construction, installation and commissioning (EPCIC) services to enable a tie-in of the Utgard gas and condensate field to the Statoil-operated Sleipner facilities in the North Sea.

The work, valued at about NOK 500 million, is for platform modifications at Sleipner to tie in the Utgard subsea field. Aker Solutions in April won a contract for preliminary engineering work to enable the tie-in. The contract included an option for EPCIC work which Statoil has now chosen to exercise.

"We've worked closely with Statoil to find the most cost-efficient solution for this project, which builds on our capabilities in complex modifications," said Knut Sandvik, head of Aker Solutions' maintenance, modifications and operations business. "We're very pleased to continue working with the customer to help secure important resources from this development."

The Utgard field will have a subsea template that will be connected by pipeline to the Sleipner T processing and CO2 removal platform and by umbilical to the Sleipner A processing, drilling and living quarters platform.

Work on the contract has started and will be completed in the fourth quarter of 2019. The project will be managed and executed by Aker Solutions in Stavanger. Prefabrication will be executed at Aker Solutions' yard in Egersund.

ENDS

For further information, please contact:

Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com

Investors:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel: +44 208 811 7111, Mob: +44 7788 338 887, E-mail: david.phillips@akersolutions.com

Per Christian Olsen, Analyst, Investor Relations, Aker Solutions. Tel: +47 67 51 36 58, Mob: +47 900 29 077, E-mail: per.christian.olsen@akersolutions.com

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 13,000 people in about 20 countries. Go to http://akersolutions.com for more information on our business, people and values.

This press release may include forward-looking information or statements and is subject to our disclaimer, see http://akersolutions.com